The Finance Algorithm
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Everyday 50PLUS Account

A high interest transaction account available to members 50 years or over, or members who recieve an eligible permanent pension.

Savings & transaction accountsBank updated 23 Oct 2026
Apply at IMB Bank ↗Product page ↗Fees and pricing ↗Terms ↗

At a glance

Base rate
0.05%
IMB Visa Debit Card

Rates

Every rate IMB Bank publishes for this account, 4 in all.

TypeApplies toTermBandRateComparisonConditions
VariableInterest paid quarterly in March, June, September and December--up to $9,9990.05%-paid every 3 mo
VariableInterest paid quarterly in March, June, September and December--$10,000–$49,9991.95%-paid every 3 mo
VariableInterest paid quarterly in March, June, September and December--$250,000+2.70%-paid every 3 mo
VariableInterest paid quarterly in March, June, September and December--$50,000–$249,9992.45%-paid every 3 mo

Rate changes

3 changes logged, newest first.

DateRateWasNowChange
23 Oct 2026Variable, $10,000–$49,9991.75%1.95%up 0.20
23 Oct 2026Variable, $250,000+2.50%2.70%up 0.20
23 Oct 2026Variable, $50,000–$249,9992.25%2.45%up 0.20

Each change is logged the night it appears in the rates IMB Bank publishes. See how every lender answered the RBA on the rate tracker.

Fees

34 fees published, grouped by when they're charged.

When you make a transaction6

  • Bulk coin count

    Maximum charge

    $5
  • Foreign cheque conversion (value AU$10,000 and greater)

    Minimum charge, subject to additional fees and charges. Charges either wholly or partly imposed by third parties

    $50
  • Foreign cheque conversion (value less than AU$10,000)

    Minimum charge, subject to additional fees and charges. Charges either wholly or partly imposed by third parties

    $25
  • Manual deposit other institution
    $10
  • Purchase of foreign currency

    $10 or 1% of the value of the total order (whichever is greater).

    1.00% of transaction
  • Total cash withdrawal over $2,000 in a day

    A fee of 0.2% of total cash withdrawals is charged for total cash withdrawals over $2000 in a day.

    0.20% of transaction

When particular things happen28

  • Audit Certificate

    Per certificate

    $30
  • BPAY payment return
    $5
  • Card replacement (in excess of 1 p.a.)
    $10
  • Copy of Financial Institution cheque

    Maximum charge. Charges either wholly or partly imposed by third parties.

    $16
  • Copy of personal cheque
    $15
  • Copy of withdrawal or deposit form
    $15
  • Default fee

    When your savings account is overdrawn for 20 days, a Default fee will be debited from your account on the 20th day and a further Default fee debited each month thereafter while your account remains…

    $25
  • Default Notice fee

    A Default Notice fee of $30 will be debited from your deposit account or Personal Credit Line facility, where you are in breach of the PDS and/or the schedule and IMB issues a notice to you demanding…

    $30
  • Interest statement - Electronic

    Per page

    $2.50
  • Pin replacement (in excess of 1 p.a.)
    $5
  • Recalculation of interest

    Per page

    $30
  • Rejected post-dated BPAY
    $5
  • Research fee

    Per page

    $30
  • Retrieval of archived documents

    Per page

    $20
  • SMS Alerts

    Per alert

    $0.25
  • Special clearance on cheques

    Maximum charge. Charges either wholly or partly imposed by third parties.

    $16
  • Stop payment fee (IMB cheques)

    Maximum charge. Charges either wholly or partly imposed by third parties.

    $12.50
  • Stop payment personal cheque
    $15
  • Trace on Electronic Debit/Credit
    $20
  • Trace on Financial Institution cheque

    Charges either wholly or partly imposed by third parties.

    $50
  • Trace on personal cheque

    Charges either wholly or partly imposed by third parties.

    $50
  • Transaction Listing - Electronic - 10 pages and over

    Per page

    $0.50
  • Transaction Listing - Electronic - up to 10 pages
    $5
  • Transfers between accounts to cover overdrawn balance
    $15
  • Unclaimed monies/dormant account

    Maximum charge per account

    $40
  • Urgent Visa card mailing
    $20
  • Visa voucher request

    Per request. Charges either wholly or partly imposed by third parties, such as Visa.

    $15
  • Overseas Visa card replacement

    Charges either wholly or partly imposed by third parties.

    $150

Features

Instant paymentsPayIDDigital bankingFraud protectionUnlimited transactionsOverdraftApple Pay.Google Pay.Samsung Pay.Garmin Pay.
  • Direct debit is available on this account type.
  • Direct Credit is available on this account type.
  • Schedule Electronic Funds Transfers or Periodic Payments via internet banking, in branch or telephone banking
  • Make and receive Electronic Funds Transfers (EFT) from this account type.
  • Do your day to day banking with your IMB transaction account at Australia Post Offices where Bank@Post is available.
  • IMB boasts an extensive branch network throughout the Illawarra, Sydney, NSW South Coast, the ACT and Melbourne.
  • IMB's Phone Banking Service gives you 24 hour access to your accounts from any touchphone.
  • IMB consultants are available Monday to Friday 8am - 8pm and Saturday 9am - 4pm
  • As of 1 June 2021, IMB will not offer a cheque facility to customers that become Members on or after that date, or to existing Members who have not been issued a cheque facility before that date
  • PayTo is available on this account type.

Eligibility and limits

  • Minimum age 50
  • Available to individuals
  • Opening balance $1

Published by IMB Bank under the Consumer Data Right, last changed by them on 23 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.